The Asian Development Bank (ADB) has agreed a $217 million financing package for the 290 MW Nam Ngiep 1 hydropower project in Lao People’s Democratic Republic.

ADB signed agreements in mid August for a $50 million direct loan, a Bt3.04 billion (equivalent of around $95 million) baht-denominated loan, and a B loan of $72 million. The B loan is funded by The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation, and Mizuho Bank, Ltd. with ADB acting as lender of record. The Japan Bank for International Cooperation and four Thai banks will also provide funding for the project.

The Nam Ngiep project is being built by Nam Ngiep 1 Power Company (NNP1PC), which is jointly owned by Kansai Electric Power of Japan, EGAT International of Thailand, and the Government of the Lao PDR.

The project is expected to start operations in 2019, and will mainly supply power to neighboring Thailand.